Freedom Communities EIN 82-2329303 Form 990 (PDF) Claim this org

Freedom Communities FY2020 filing

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Transforms communities by strengthening families. For fiscal year 2020 it reported $1.2M in revenue, $617K in expenses, and $1.1M in net assets.Pt I

Type
Public charity (501(c)(3)) · Community Development
Location
Charlotte, NC
Website
www.freedomcommunities.com
Filings
5 on file (2020–2020)
Revenue
$1.2MFY2020
Expenses
$617K
Net assets
$1.1M
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  82-2329303 Public charity (501(c)(3)) Charlotte, NC
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 8/23/26 · see original: IRS
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Size
$1–10M
What they do
Transforms communities by strengthening families.
Leadership
Hannah Beavers · Executive Director · $120K
Money in and out
$1.2M revenue, $617K expenses
Bottom line
70% program efficiency
Where the money goes · FY2020
Total revenue
$1.2M
Pt VIII · Ln 12
Total expenses
$617K
Pt IX · Ln 25
Net assets
$1.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $556K
Where spending went · Part IX cols B–D
Program services $0.70 Management & general $0.22 Fundraising $0.09
Program efficiency
70%
of spending reaches programs
Operating runway
14.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+47%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$1.2M
FY2020
Expenses
$617K
FY2020
Total assets
$1.7M
FY2020
Total liabilities
$627K
FY2020
Total revenue
$1.2M
Pt VIII · Ln 12
Total expenses
$617K
Pt IX · Ln 25
Net assets
$1.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$556K
Total assetsPt X · Ln 16$1.7M
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFreedom Communities
EINHdr · item D82-2329303
Principal addressHdr · item CCharlotte, NC
WebsiteHdr · item Jwww.freedomcommunities.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S20)
Ruling yearIRS BMFMar 2018

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$120,000Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Hannah Beavers’s $147K as Executive Di is at the 45th percentile of top reported officer pay among 2834 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Hannah Beavers$146,856$143,306$120,000
Hannah Beavers$141,000$115,000
Suzanne Hunt$33,667

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $429K of program spending, described in the organization's own filed words · FY2020.
01

Early Education

We expand access to quality early education with the goal of increasing third grade literacy at neighborhood schools. We are expanding a local preschool to add 75 new early education slots for neighborhood children. We are also supporting the education needs of the children of Moms Moving Forward participants.

$180Kprogram expense
02

Housing & Economic Development

In addition to investing in families, we also invest in the community to create an environment where families can thrive. Over the next 3 years in partnership with Crosland Southeast we will create over 500 new affordable housing units.

$131Kprogram expense
03

Family Stability

We provide holistic wrap around solutions for families. With single-mothers making up the majority of the heads of household in the area we serve, the best way to make an impact on the next generation is to equip these mothers with the tools and resources to uplift their whole family.

$118Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants100%$1.2M
Investment income$1
Other revenue$6K
— government grantsLn 1e$46K
Total revenueLn 12$1.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.22 Fundraising $0.09
Program services70%$429K
Management & general22%$134K
Fundraising9%$54K
Total functional expensesLn 25$617K

Balance Sheet

Part X · end of year
CashLn 1$741K
Total assetsLn 16$1.7M
Total liabilitiesLn 26$627K
Total net assetsLn 32$1.1M
Months of cash on handcomputed14.4

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $741K · Operating expenses/yr $617K
14.4 months
Where the money goes
Program services
Program services $429K · Total expenses $617K
70%
Management & General
Management & general $134K · Total expenses $617K
22%
Fundraising
Fundraising $54K · Total expenses $617K
9%
Cost to raise $1
Fundraising expense $54K · Solicited contributions $1.1M
$0.05 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $1.2M · Total revenue $1.2M
100%
Government reliance
Government grants $46K · Total revenue $1.2M
4%
Earned-income share
Program service revenue $0 · Total revenue $1.2M
0%
Investment reliance
Investment income $1 · Total revenue $1.2M
<0.01%
Program self-sufficiency
Program service revenue $0 · Total expenses $617K
0%
Growth & trend
Revenue growth (YoY)
This year $1.2M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $1.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.2M · Expenses $617K
+47%
Liabilities-to-Assets
Total liabilities — · Total assets $1.7M
Net-asset ratio
Net assets $1.1M · Total assets $1.7M
63%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.7M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Hannah Beavers · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $120K · Total expenses $617K
19%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $407K · Total expenses $617K
66%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 70%
Overhead ratio 22%
Fundraising cost ratio 5%
Legal fee ratio 1%
Accounting fee ratio 0.5%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Emite INCFY2025$15K
Total grants receivedfrom 3 funders$50K
See all 3 funders →
Grants paid · 2 grants · $65K · 2020–2020
YMCANC · FY2020$45,000
Schermbeck Consulting LLCFY2020$20,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$5.1M revenue · ⤓ 990 PDF
FY2023$2.4M revenue · ⤓ 990 PDF
FY2022$2.6M revenue · ⤓ 990 PDF
FY2021$1.5M revenue · ⤓ 990 PDF
FY2020$1.2M revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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